The public listed company Lyft (LYFT) reveiled its results for the first quarter. According to the company,it made a 1,14 billion dollar loss for the period with the revenue of 776 million dollars. The company also estimated that the total year revenue would be 3,3 billion dollars.
Lyft also said that the net loss includes a 894 million dollars of stock-based compensation and payroll tax expenses in connection with the company IPO offering in March. The company raised 2 billion dollars in the listing process.
The company is having 30 million riders and 2 million drivers.The company stock was trading down 4,3% to 56,89 dollars on Wednesday.
The rival company Uber (UBER) is to have its IPO in the New York Stock Exchange on Friday.